Will the NAFTA deal boost risk appetite?

The news that Canada will be a member of trilateral NAFTA pact may allow bulls to push this week on the “happy end” scenario in Trump’s protectionist undertaking. The progress in tough negotiations was quite a surprising piece of information, given Canada’s economic and political sensitivity on the remaining controversies.

XAUUSD approaching support, potential bounce!

XAUUSD is approaching our first support at 1181.28 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1194.23 (horizontal overlap resistance, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also approaching support and we might see a corresponding rise in […]

NZDUSD approaching resistance, potential drop!

NZDUSD is approaching our first resistance at 0.6632(horizontal overlap resistance, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 0.6548 (horizontal overlap support, 76.4% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. RSI (55,5,3) is […]

Summary

Today we are seeing a nice setup EURUSD as it is approaching support where we expect a bounce above this level. We are also seeing a nice setup on GBPUSD as it is approaching resistance where we expect a drop below this level. Here are some of our nice calls previously: GBPCAD reversed perfectly from […]

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